Friday, January 08, 2016

I sure hope they have a very specific plan for the money

Wouldn't want BGR to jump on their case or anything. We do know how they hate dedicated millages.
The New Orleans City Council will let voters decide whether to approve $26.6 million a year in new taxes to fund an expanded New Orleans Police Department and to pay off a legal settlement with firefighters.

The council voted 7-0 Thursday to put the tax hike on the April 9 ballot. If voters approve the measure, property taxes would increase by 7.5 mills for 12 years starting in 2017.

The increase, which would not be subject to the homestead exemption, would cost the owner of a house assessed at $150,000 an extra $112.50 a year. The owner of a house assessed at $450,000 would pay $337.50 more.

The ballot measure must still be approved by the State Bond Commission in February before it can go on the April 9 ballot.
We learned last year that BGR has some exacting standards when it comes to these matters. We also know that they're gearing up to put out a report on comprehensive municipal finance reform soon. It will be interesting to see if this significant increase in dedicated tax revenue gets a pass from them under these circumstances.

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